Disney (DIS) has bought three adjoining tracts of land not far from its California Adventure theme park, raising hopes that the additional land could be home to a new park addition featuring the likes of Star Wars or Marvel.
Those wishful thoughts are unfounded, though.
The additional property amounts to 14.7 acres and records indicate that the total value of the land is about $60 million, although Disney didn’t say how much it paid for the land. It will go toward a less thrilling — but just as important — use, given Disneyland’s ongoing growth, according to spokeswoman Suzi Brown.
“This property will help to support additional infrastructure needs, including warehouse and office space and parking,” she told Coins2Day.
Disney, which has promised the city of Anaheim that it will invest $1 billion in its local theme parks by 2024, said any expansion plans will live within the resort’s current footprint. In exchange for that investment, Anaheim agreed to withhold an entertainment tax on the resort for the next 30 years.
Disneyland, given its hemmed-in location, makes an effort to buy nearby property when it goes up for sale. The three new pieces of land were occupied when Disney purchased them. Two tracts purchased last July hold office buildings, one of which is home to a long-term tenant, and another Disney will use for its behind-the-scenes operations. The third parcel purchased in March is home to a motel that is still independently operated.
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